ANALYST PRESENTATION - Adler

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ADLER presents an excellently positioned fashion brand, making it an attractive investment opportunity in a fast growing market segment ADLER | ANALYST PRESENTATION 1 2 3 4 5 6 7 Excellent positioning and clear market focus Superior customer loyalty and high visibility Beneficiary of major demographic trends Compelling business model Significant growth potential Attractive profitability upside Strong management team with proven track record � The leading apparel retailer with excellent focus on target group aged 45+ with comfortable fits � Clear brand positioning in the value price segment with outstanding value-for-money perception � Strong brand awareness in Germany � High customer loyalty based on strong and long-standing customer relationships � Full visibility of customer behaviour – 91% of revenues generated by 3.3 million active ADLER Customer Card owners in 2010 � Key beneficiary of demographic shift to an aging population � Attractive positioning in the value price segment, being the winning segment in the German apparel market � Lean and vertical business model with full information control over the entire value chain � Asset light model with high scalability due to high process standardisation and limited capex requirements for new store openings � Highly flexible modular store system providing maximum customisation capabilities � Attractive diversity of complementing growth drivers � Strong growth potential across all product divisions and brands � Significant store roll-out opportunity in Germany � International expansion in both existing and new markets � Systematic margin upside through conceptual improvement of retail store portfolio � Large upside potential through expansion of direct sourcing activities and realisation of economies of scale � Highly regarded and committed management team with a complementary skill set ensuring strong expertise in all relevant areas � Successful track record of repositioning the ADLER brand, return to profitability and implementing strategic platform for further profitable growth 98
1 Offering structure 2 Introduction to ADLER 3 Investment highlights 4 Positioning 5 Distribution concept 6 Value chain 7 Financial discussion 8 Summary 9 Appendix ADLER | ANALYST PRESENTATION 99
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ANALYST PRESENTATION 23 February 20
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Agenda for the day 09:00 - 11:00 11
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Overview of the offering Issuer �
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1 Offering structure 2 Introduction
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Who is ADLER The leading German app
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Key milestones in ADLER’s history
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Quick and sustainable materialisati
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Investment highlights ADLER | ANALY
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1 Unique positioning and clear mark
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3 Beneficiary of major demographic
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4 Compelling business model Lean an
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5 Significant growth potential Attr
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5 Significant growth potential Sign
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6 Attractive profitability upside S
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7 Strong management team with prove
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1 Offering structure 2 Introduction
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European apparel market overview Sh
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ADLER targets markets with similari
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ADLER exactly meets the needs of it
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Product offering Women - Own brands
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Product offering Men - Own brands R
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Collection fashion grade management
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Lingerie ADLER | ANALYST PRESENTATI
Page 47 and 48: Financial snapshot - Lingerie €m
Page 49 and 50: Financial snapshot - Accessories &
Page 51 and 52: External brands - PoS presentation
Page 53 and 54: Financial snapshot - External brand
Page 55 and 56: Multi-channel distribution drives f
Page 57 and 58: Existing store portfolio Country To
Page 59 and 60: Recent optimisation of store networ
Page 61 and 62: E-business ADLER | ANALYST PRESENTA
Page 63 and 64: ADLER e-shop has shown great custom
Page 65 and 66: Key benefits of the ADLER Customer
Page 67 and 68: Tangible improvement of visual merc
Page 69 and 70: Significantly improved design of fl
Page 71 and 72: … has led to considerable growth
Page 73 and 74: 1 Offering structure 2 Introduction
Page 75 and 76: Product development process - Fashi
Page 77 and 78: Extension of direct sourcing as maj
Page 79 and 80: Systematic and flexible product cyc
Page 81 and 82: Sustainability BSCI member Fairtrad
Page 83 and 84: Overview of group structure ADVERS
Page 85 and 86: Revenue development €m 474.6 ADLE
Page 87 and 88: Development of major income stateme
Page 89 and 90: Bridge between reported and adjuste
Page 91 and 92: Capital expenditures €m % of net
Page 93 and 94: Revenue seasonality ADLER | ANALYST
Page 95 and 96: Use of IPO proceeds 1 2 3 � Fundi
Page 97: 1 Offering structure 2 Introduction
Page 101 and 102: Balance sheet ADLER | ANALYST PRESE
Page 103 and 104: Senior management team Prior employ
Page 105: ADLER | ANALYST PRESENTATION 105
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ANALYST PRESENTATION - Adler

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